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Chapter Two FAQ I am in the I quadrant. What can I do to earn more and pay less in taxes, legally? Professional Answer from Tom Wheelwright Using other people’s money is literally the best way to reduce your taxes in the I quadrant. That’s because you can take deductions for the purchases you make with other people’s money. Depreciation on real estate is a particularly great way to take tax benefits on someone else’s money. You get a deduction not just for the portion of the real estate you paid for with your own money, but you also get a depreciation deduction for the portion paid for with the bank’s money.

The Quadrant in Simple Terms E’s work for someone else. S’s work for themselves. B’s have others work for them. I’s have their money or OPM (other people’s money) work for them.

The Bigger Difference E’s and S’s work for money, which is why they pay more in taxes. E’s and S’s focus here: INCOME STATEMENT

E-S

Income Paycheck Commission Bonus Per hour

Expenses

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Profile for Jamiel Cotman

Unfair advantage ebook  

by Rich Dad, Robert Kiyosaki

Unfair advantage ebook  

by Rich Dad, Robert Kiyosaki

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